329 East 48th Street Parking Garage

The property consists of a two-level condominium garage spanning 39,421 square feet. It is located below 441,000 square feet of residential space, which includes 379 residential units. The property is in Manhattan's UN's Midtown neighborhood, offering a prime location. It benefits from high visibility due to its proximity to 1st and 2nd Avenues, which experience significant traffic with over 26,500 and 33,300 vehicles per day, respectively. The parking customers are derived from various stable demand generators in the area. These include office spaces, residential units, the United Nations, and embassies. Within a one-block radius of the property, there is a significant amount of residential and office space totaling over 3.17 million square feet. This proximity to other establishments further emphasizes the potential demand for parking in the area.